SoftBank's Vision Fund logs $4 billion gain, its biggest in nearly 3 years, as tech valuations recover
Publishing timestamp: 2024-02-08 05:14:04
Summary
SoftBank reported its first quarterly profit in four quarters, driven by gains at its flagship tech investment arm, Vision Fund. The fund logged a gain on investment of 600.7 billion Japanese yen, the highest since March 2021. SoftBank's net income also exceeded expectations. The company saw rising valuations from investments in Didi and ByteDance. SoftBank has shifted its focus from Alibaba to an AI-centric portfolio, with Arm accounting for a larger portion of its assets.
Sentiment: POSITIVE
Tickers: 9984.T-JP,
Keywords: earnings, enterprise, breaking news: technology, business news, softbank group corp, arm holdings plc, venture capital, breaking news: asia, china, masayoshi son, internet, technology,
Source: https://www.cnbc.com/2024/02/08/softbank-earnings-q3-fy-2023.html